Financial adviser who settled with regulators no longer at Scotia

Adviser Mark Rotstein no longer at Scotia Captial

Mark Rotstein, a financial adviser who was able to keep his job at Scotia Capital despite admitting to regulators in April — along with an associate — that they had passed off their signatures as those of clients, is no longer with the investment dealer arm of Bank of Nova Scotia.

“Mark is no longer employed at the Bank,” Scotia spokesman Andrew Chornenky said in an emailed statement Thursday. He said the departure is not related to a year-long suspension that was part of a settlement Mr. Rotstein and his associate Jessica Elisabeth Zackheim made with the Investment Industry Regulatory Organization of Canada less than three months ago. The suspension was to be served in two six-month stints.

Mr. Chornenky said Ms. Zackheim is still with the bank, but declined to comment further, saying Scotia does not discuss details related to human resources.

The settlement with IIROC related to Mr. Rotstein’s and Ms. Zackheim’s earlier employment with RBC Dominion Securities Inc., the investment dealer arm of Royal Bank of Canada. The pair was dismissed by RBC last year, but joined Scotia the following month.

IIROC imposed terms and conditions on their registration that required the pair to be “subject to close supervision” at Scotia, with monthly reports filed to IIROC.

A spokesman from IIROC declined to comment Friday on Mr. Rotstein’s departure from Scotia.

“It would be inappropriate to comment at this time,” said David Thomas.

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